Page 208 - Economy & Policy News

India's GDP growth projected at 6.4% for FY25, 6.5% for FY26: EY report

According to revised national accounts data released by NSO last month, real GDP growth rates for FY23 to FY25 are now estimated at 7.6 per cent, 9.2 per cent and 6.5 per cent

Public Accounts Committee flags mismatches in GST worth Rs 16.6K cr in FY21

The PAC said the inconsistencies highlight serious inefficiencies in the GST system's data validation and reconciliation processes, as GSTR-9 is auto-populated from GSTR-3B

Cabinet approves 2% hike in dearness allowance of central govt employees

The combined impact on the exchequer on account of the increase in both Dearness Allowance and Dearness Relief would be Rs 6,614.04 crore per annum

India looks to offer US tariff cuts on farm imports, eyes trade success

Unlike China, Canada and the EU, India is actively seeking to appease the Trump administration and is open to cutting tariffs on over half of US imports worth $23 billion

Cabinet okays Rs 23K cr PLI scheme for electronics component manufacturing

A total of 91,600 direct jobs are likely to be generated under the scheme, Union electronics and information technology minister Ashwini Vaishnaw said

India may gain as US imposes fresh tariffs on China, others: NITI Aayog

Apart from the additional tariffs that have been imposed on Mexico, China and Canada by the US, these countries account for 50 per cent of the US's total imports, which stands at over $3 trillion

India proposes retaliatory tariffs as EU extends steel safeguard measures

The EU's measure has caused an annual trade loss of $1.472 billion (2023-2024) to India on which the duty collection (at 25 per cent duty) would be $368 million

India's current account deficit widens to 1.1% of GDP in Q3 FY25

BoP witnesses depletion of $37.7 billion

Centre's capex spending dropped 35% in February, shows CGA data

Capex spend of Rs 2 trillion needed in March to meet FY25 revised estimate

Govt announces borrowings of Rs 8 trillion in the first half of FY26

The gross market borrowing of ₹8 trillion will be completed through 26 weekly auctions

India's fruit exports rise 47% in 5 years: Jitin Prasada in Rajya Sabha

The minister assured the members that the government is doing everything to ensure the quality of our products and fruits are of international standards, and pesticide level is very low

Services sector credit growth dips sharply in February, shows RBI data

Retail growth moderates on slump in unsecured credit

CAD widens to $11.5 billion in Q3 on higher trade deficit: RBI data

The CAD in the December quarter of 2024-25 has moderated from $16.7 billion (1.8 per cent of GDP) in the preceding quarter of the fiscal year

Key infra sectors growth slows to 2.9% in February, shows govt data

On a monthly basis, the growth rate in the production of these sectors was lower than the 5.1 per cent expansion recorded in January

India's forex reserves rise for third week, hit over four-month high

Changes in foreign currency assets are caused by the central bank's intervention in the forex market as well as the appreciation or depreciation of foreign assets held in the reserves

Cabinet clears Rs 22,919 crore PLI scheme for passive electronic components

The minister said that the scheme will create direct employment for 91,600 people and attract investment of around Rs 59,350 crore

India bond yield curve may steepen further on 10-yr supply spike: Analysts

India aims to gross borrow 8 trillion rupees ($93.63 billion) through the sale of bonds in the April-September period, lower than market expectations Rs 8.3 trillion- Rs 8.7 trillion

US tariffs unlikely to impact India, may create opportunities: NITI Aayog

The three main competitors in the US market are - Canada, Mexico and China. They account for 50 per cent of the USA's total imports of $3.1 trillion

India's Apr-Feb fiscal deficit at 85.8% of full-year target, shows data

In the annual budget in February, India revised lower its fiscal deficit target for the current financial year to 4.8% of GDP and aimed to further narrow it to 4.4% in 2025-26

India proposes tariff cuts on US farm imports as April 2 deadline looms

Unlike many other nations, India has been been on the front foot to negotiate tariff cuts and is open on over half of US imports worth $23 billion, Reuters reported